Some Asian economies got a boost last month as demand picked up and new business inflows grew more robust. Hong Kong? Not so much.
The Nikkei Hong Kong purchasing managers’ index tracking the territory’s private sector business activity came in at 48.2 in October, dropping back after gains put it at 49.3 in September and in in sight of the 50-point line delineating contraction from expansion.
The reading marked the twentieth straight month of contraction for Hong Kong’s private sector as new work from mainland China dropped at the sharpest rate in four months and weaker demand prompted a reduction in output.
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